Effective therapies and diagnostics for challenging brain diseases and disorders

Nexstim is a Finnish, globally operating growth-oriented medical technology company. Nexstim shares are listed on Nasdaq First North Growth Market Finland.

Who We Are

Founded in Finland in 2000, Nexstim is a growth-oriented medical technology company operating in the international market. Nexstim has developed a world-leading non-invasive brain stimulation technology for navigated transcranial magnetic stimulation (nTMS) with highly sophisticated 3D navigation providing accurate and personalized targeting of the TMS to the specific area of the brain.

Nexstim has subsidiaries in the United States (Nexstim, Inc.) and in Germany (Nexstim Germany GmbH).

Over 230 NBS systems and over 80 systems that include therapy functionalities have been delivered to facilities worldwide for neurosurgical planning, multiple therapies, and research.

What We Do



One of the most crucial pieces of information needed for neurosurgery is the tumor’s or other brain lesion’s location in relation to the essential functions and their connections in the patient’s brain. nTMS mapping with Nexstim’s system is used when the tumor is thought to be close to important motor and language areas in the patient’s brain. These brain maps are useful when deciding the treatment option.


Key authority approvals (NBS System 5): 

  • FDA approved for presurgical mapping of the speech and motor cortices of the brain.
  • CE marked for presurgical mapping of the speech and motor cortices of the brain.



If pharmaceuticals are not working or a non-drug option is wanted, nTMS conducted with Nexstim’s system might be the answer for treatment of major depressive disorder or for chronic neuropathic pain.




Key authority approvals (NBT® System 2 and NBS System 6):

  • FDA approved for the treatment of major depressive disorder
  • CE marked for the treatment of major depressive disorder and chronic neuropathic pain.

Customers have the possibility of acquiring a system that has either diagnostic or therapy functionalities, or a system combination that enables the delivery of both applications in the same system.

Summary of CEO's Review of full year 2023

"In line with our main strategic objective, we have continued to focus on profitable revenue growth, and we were on track for the full year. To our disappointment we did not achieve our target of a positive EBITDA for the full fiscal year 2023, with a loss of EUR -0.5 (2022: 1.3) million. To ensure a positive profitability trend, during the first half of 2023 we conducted change negotiations in the company as part of the transition to a global team organization, which will in future serve Nexstim's customers better and more efficiently and deliver long-term shareholder value growth. The therapeutic application areas we have chosen (MDD, major depression and chronic pain) are indications where our unique technology is already delivering clear clinical results and contributing to the profitability of our customers' operations. We are also continuing discussions on new strategic partnerships to further scale the use of our technology in care.

The end of 2023 was a record-breaking for Nexstim in terms of net sales and operating result. In the second half of 2023, we achieved total net sales of EUR 4.7 (2022: 2.7) million with an increase of 73.5%. This growth was driven, in particular, by system sales of EUR 2.3 (2022: 0.7) million in the Diagnostics business, with a staggering 230.7% growth year-on-year. With this strong growth, we also achieved a profitable second half for the first time, with an operating result of EUR 0.2 (2022: -1.5) million and a net profit of EUR 0.1 (-1.9) million.

During the second half of 2023, we continued to focus on projects important to the company's strategic competitive advantage, such as enabling the company's future growth and improving cost efficiency through our new global team structures. We also received the first system orders and deliveries for our new NBS 6 in the US market, demonstrating the strong competitiveness of our system in the world's largest market. I would like to thank Nexstim's customers, employees, partners, and investors for making this record-breaking year possible.

In line with our strategy to the end of 2024, Nexstim will continue to provide patients with personalized and effective treatment and diagnostics for severe brain diseases and disorders. We have already started the process of updating our strategy and we will share more about this as we move forward, but I believe that our strategy will continue to build on strong growth in both diagnostics and therapeutics. The growth and profitability performance of both our Diagnostics and Therapy businesses will play a key role in our efforts to minimize our future capital requirements on our journey towards continued profitability."

Mikko Karvinen, CEO


Page last updated: 8 March 2024